Marico acquires Ahmedabad-based men’s grooming brand Beardo

Featured image: Beardo founders: Priyank Shah (L) and Ashutosh Valani (R); Credits: The Hindu BusinessLine


Marico, Indian FMCG behemoth today announced that it has acquired Beardo, a men’s grooming brand. The acquisition witnessed the exit of VCats, an Indian leading integrated incubator and accelerator platform.

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This was the second tranch of Beardo’s parent company Zed Lifestyle’s acquisition by Marico – acquiring 55 percent stake in the company. Back in May 2017, Marico acquired a 45 percent stake in Zed Lifestyle by investing INR 50 crore in the company.

Beardo also amassed Bollywood actor Suniel Shetty as an investor and now has on-boarded Hrithik Roshan as its brand ambassador.

Founded in 2015 by Ashutosh Valani and Priyank Shah, Beardo is an Ahmedabad, Gujarat-based manufacturer of natural ordinary oils or incompatible products for men such as beard wax, hair care products and more.

In 2016, Venture Catalysts along with other investors invested a total of $500K in Beardo. Venture Catalysts in a press statement has revealed that they have spruced 5x to 8x returns from their investments in Beardo.

Apoorva Ranjan Sharma, Founder of Venture Catalysts in a statement said,

“We are extremely proud of Ashutosh Valani and Priyank Shah on their successful entrepreneurial journey from a small town to becoming a leader in the men’s grooming category. We were one of the first to have believed in Beardo’s true potential and the idea. Men’s grooming market has grown from a mere Rs 3,200 crore in 2016 to a whopping Rs 10,000 crore today, and this speaks volumes about VCats’s ability to spot potential startups. With Marico’s acquisition of Beardo, VCats has taken a complete exit at stellar valuations,”

Ashutosh Valani, now the former CEO of Beardo in a statement talked about his exit as,

“We are fortunate to have got Venture Catalysts as our investor and mentor. At a time when most of the Indian VCs and angel investors were chasing tech startups from Mumbai, Delhi, and Bengaluru, VCats believed in and reposed its faith in a startup from a small city like Ahmedabad. VCats has been a tremendous support in our journey from a startup to becoming a national brand. We thank the entire team for being so co-operative in providing mentorship, quick evaluation, and super quick decisions.”

Marico in a regulatory filing added,

“The investment makes the investee company (Zed Lifestyle) a wholly-owned subsidiary of Marico Ltd and gives Marico a complete control over the operations of the investee company,”

Pradeep Singh
Pradeep Singh

Former interim CTO at LAFFAZ. A full-stack developer, possessing 6+ years of experience in working closely with tech startups in India and UAE.

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